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HARTFORDBUSINESS.COM | DECEMBER 27, 2021
FINANCE
Top Paycheck Protection Program lenders in Connecticut
(Ranked by total number of PPP loans to Connecticut businesses as of June 30, 2021)
Top Paycheck Protection Program lenders in Connecticut
(Ranked by total number of PPP loans to Connecticut businesses as of June 30, 2021)
Rank Lender
Total loans/
Value
Loans over $150K/
Value
Loans under $150K/
Value
1
People's United Bank (1)
Bridgeport
14,307
$1,412,174,629
1,086
$1,009,252,102
13,221
$402,922,527
2
Webster Bank (2)
Waterbury
13,612
$1,282,799,519
1,772
$861,310,979
11,840
$421,488,540
3
Bank of America
Hartford
9,497
$832,768,650
968
$555,911,722
8,529
$276,856,928
4
TD Bank
Glastonbury
5,969
$520,585,613
673
$338,606,469
5,296
$181,979,144
5
Liberty Bank
Middletown
5,784
$429,660,030
585
$267,657,817
5,199
$162,002,213
6
Cross River Bank
Fort Lee, NJ
3,992
$104,615,237
71
$23,202,706
3,921
$81,412,531
7
JP Morgan Chase Bank
Greenwich
3,798
$381,868,699
544
$255,912,192
3,254
$125,956,507
8
Citizens Bank
New Haven
3,474
$397,929,357
434
$292,327,373
3,040
$105,601,984
9
KeyBank
New Haven
3,383
$401,873,812
549
$289,973,352
2,834
$111,900,460
10
ion Bank
Naugatuck
2,902
$268,167,433
375
$179,896,883
2,527
$88,270,550
11
Customers Bank
West Reading, PA
2,490
$78,484,861
77
$31,699,430
2,413
$46,785,431
12
Wells Fargo Bank, NA
New Haven
2,352
$102,567,425
122
$39,169,013
2,230
$63,398,412
13
First County Bank
Stamford
1,972
$183,323,589
298
$125,415,986
1,674
$57,907,603
14
Thomaston Savings Bank
Thomaston
1,896
$195,747,733
295
$140,899,719
1,601
$54,848,014
15
Fairfield County Bank
Ridgefield
1,764
$220,804,962
348
$153,278,334
1,416
$67,526,628
16
Savings Bank of Danbury
Danbury
1,741
$131,819,075
191
$83,834,592
1,550
$47,984,483
17
Union Savings Bank
Danbury
1,697
$194,493,528
261
$140,465,510
1,436
$54,028,018
18
Newtown Savings Bank
Newtown
1,418
$145,360,980
205
$102,861,373
1,213
$42,499,607
19
WebBank
Salt Lake City, UT
1,354
$32,449,368
22
$5,810,793
1,332
$26,638,575
20
Chelsea Groton Bank
Norwich
982
$108,307,557
174
$73,707,861
808
$34,599,696
21
Kabbage, Inc.
Atlanta, GA
960
$13,621,220
4
$925,166
956
$12,696,054
22
Northwest Community Bank
Winsted
876
$65,674,912
105
$39,233,241
771
$26,441,671
23
Dime Bank
Norwich
863
$74,476,972
90
$45,006,200
773
$29,470,772
24
Berkshire Bank
West Hartford
804
$116,210,160
159
$91,593,725
645
$24,616,435
25
Celtic Bank Corp.
Salt Lake City, UT
793
$32,446,432
36
$13,845,281
757
$18,601,151
Source: Small Business Administration PPP loan data. Banks not headquartered in Connecticut are listed with the location of their largest Connecticut branch, or if they have no branch in the state, the location of their headquarters.
(1)
People's United Bank is in the process of being acquired by M&T Bank of Buffalo, New York. The deal is expected to close in the fourth quarter of 2021.
(2) Webster Bank parent company Webster Financial Corp. is in the process of merging with Sterling Bancorp in a $10.3 billion deal. After the deal is completed, Webster will move its headquarters to Stamford.
—Compiled by Timothy Doyle.
